Intensionalism vs Consequentialism I'm sure it's already been touched on in the replies, and I'm far too lazy to check, but utilitarianism is arbitrary, but not for the reasons you point out. The obvious reply to this sensical objection is to qualify that it is the foreseeable consequences which matter. Of course, we cannot predict every foreseeable effect an action might have. It is too impractical.
We only need to concern ourselves with the reasonably foreseeable consequences. For example, if Billy going into the woods with a lighter on leads, somehow to the end of world hunger, we can safely disqualify this as a predictable consequence. However, if Billy starts a ravaging fire that displaces several animals and kills many more, well, that is slightly more predictable. It is a bit ironic that you should charge consequentialism as being unpredictable and arbitrary, though.
Think for a moment of how utterly awful we are at ascertaining or predicting our true intentions. Think about how many things are deeply layered in our subconscious.
There is also this point to make. Intentionalism does not matter when one can claim ignorance to reasonably predictable consequences. For example, let's say that it was not Billy's direct intention to kill and displace all those animals that day. Even if this is true, one might rightly say that it must have been clear to Billy that there was at least some chance the whole forest could burn, and Billy was ok with this chance. It is obviously unwise to sanction an ethical theory that does not make individuals responsible for predictable results.